An initiative aimed at reforming Nebraska’s tax system has achieved a significant milestone towards its goal, according to organizers. On Tuesday, they announced that one of the necessary requirements for placing the issue on the ballot has been met.
Epic Option has made an exciting announcement, revealing that their two ballot initiative petitions have successfully garnered the support of at least 5% of voters in 38 counties.
The first ballot initiative aims to abolish all state taxes, including property taxes.
The second ballot initiative instructs the Legislature to pass a consumption tax, which will have an exemption for groceries.
According to EPIC, the consumption tax is expected to be lower than 8%.
However, critics argue that in order to compensate for the decrease in revenue, the rate would have to be raised to a minimum of 21%.
In order for the petitions to be included on the ballot, they must first gather enough signatures to meet the overall signature threshold of 10% of the state’s registered voters. This equates to approximately 123,000 signatures.
